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South Africa bans adviser commission with own RDR
June 15, 2015--South African financial advisers will no longer be able to receive commission from fund groups for selling their products in a retail distribution review (RDR) like reform, which bears the same name.
According to the Financial Times, South African regulators are introducing the reforms in 2016 so commission payments are replaced by an advice fee, agreed upfront with the customer, following the footsteps of the UK under the RDR.
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Source: citywire.co.uk
S&P affirms SA's rating
June 12, 2015--Standard & Poor's affirmed South Africa's credit rating on Friday, saying tax increases should limit fiscal risks in the next three years.
"We are affirming our long-and short-term foreign currency sovereign credit ratings on South Africa at 'BBB-/A-3'," S&P said in a statement, adding it had kept the outlook stable.
The ratings firm added that it expected Treasury to stick to its promise to maintain a hard expenditure ceiling, and that it expected growth of 2.1 percent in 2015.
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Source: moneyweb.co.za
Bulls gaining upper hand on JSE
June 12, 2015--The stalemate in talks about Greece spilled over to the JSE in
morning trade with very little movement at first, but with bulls gaining the upper hand by noon.
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Source: FIN24
Rand steady ahead of S&P rating update
June 12, 2015--The rand has steadied against the dollar as investors held
positions ahead of a Standard & Poor's credit rating update on the economy.
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Source: FIN24
Rand slips as market awaits domestic data
June 11, 2015--The rand has traded softer against the dollar,
with scope to extend losses should domestic mining and factory output numbers come out weaker than expected.
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Source: FIN25
JSE sustains rally on optimism over Greek debt deal
June 11, 2015--The technical rebound on the JSE has continued as upbeat
sentiment over a possible solution for the Greek debt crisis improved the market tone even further.
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Source: FIN24
Rand slips as market awaits domestic data
June 11, 2015--The rand has traded softer against the dollar, with scope to extend losses should domestic mining
and factory output numbers come out weaker than expected.
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Source: FIN24
Rand slips as market awaits domestic data
June 11, 2015--The rand has traded softer against the dollar, with scope to extend losses should domestic mining
and factory output numbers come out weaker than expected.
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Source: FIN24
JSE indices dip in volatile trade
June 10, 2015--Share prices have recovered on the JSE in morning trade,
but analysts warned this is just a technical rebound after the previous day's relatively high selling volumes.
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Source: FIN24
Rand up but still hit by ailing economy
June 10, 2015--The rand has climbed nearly 1% against the dollar although concerns about the faltering economy
are likely to cap gains.
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Source: FIN24